> a few stuffy bureaucrats earning a salary of few hundred thousand a year are the ones who decide what happens to the money of billions

You’re describing the leaders of the G-10, their central banks’ governors and the world’s most powerful legislatures, who pass the Basel Accords into law, as “stuffy bureaucrats.”

If you’re looking for conspiracy theories, the FOMC is far less elected, and arguably far more powerful, than the committees passing non-binding regulations on capital requirements and leverage limits.